LPA Group PLC AGM Trading Update and Contract Win (4127Z)
March 14 2017 - 8:00AM
UK Regulatory
TIDMLPA
RNS Number : 4127Z
LPA Group PLC
14 March 2017
LPA GROUP PLC
("LPA" or the "Group")
AGM Trading Update and Contract Win
At the AGM of the Group to be held at 12.00 noon today, Michael
Rusch, Chairman, will make the following statement:
"In my statement included in the Annual Report published in
January, I reported that the Group had established itself on a new
trading level. I am pleased to report that this appears to be being
sustained with excellent levels of orders and sales being achieved
this financial year to date.
"While progress is currently exceeding our internal
expectations, margins in the first half are expected to be lower
than in the same period last year, due to a change in product mix
arising from a higher proportion of project work, reduced defence
and aerospace activity and the previously reported collapse of one
of our oil and gas sector customers during the first quarter: the
business of this customer has now been acquired by a third party
and trading has resumed.
"We are always cautious at this point in the year but,
recognising our performance to date and that the order book for
delivery over the next three years remains at close to record
levels, we continue to expect good progress for the year as a
whole.
"We are currently moving our LED lighting business to an
extended and refurbished facility located approximately 200 metres
from our existing premises in Normanton, West Yorkshire: the move
is being phased so as to minimise disruption.
"I am pleased to report that, during March, we have received a
GBP1.7 million order as part of a contract to supply circa GBP2
million of inter-car jumpers for London based rolling stock over
the next three years. We continue to pursue export opportunities in
the buoyant Asian and Australasian markets, while endeavouring to
satisfy the demanding rail market at home.
"We remain very excited about our future. I hope to be making
equally positive remarks in the Interim Statement to be published
in June."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
ENQUIRIES:
LPA Group plc
Peter Pollock, Chief Executive Tel: 07881 626123
or 01799 512844
Steve Brett, Finance Director Tel: 07881 626127
or 01799 512860
Cairn Financial (Nominated Tel: 020 7213 0880
Adviser)
James Caithie / Tony Rawlinson
WH Ireland (Broker) Tel: 0113 394 6600
Tim Feather / Ed Allsopp
Instinctif Partners (PR Adviser) Tel: 020 7457 2020
Mark Garraway / Helen Tarbet
This information is provided by RNS
The company news service from the London Stock Exchange
END
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